Unified growth based on the specific factors model

Arbeitspapier

The two-sector specific factor model is typically used in the theory of international trade where it helps to clarify the principle of comparative advantage. Instead, we use this model as explicit theoretical framework to explain major trends of long-run economic development. Combined with endogenous technical progress functions which assume that knowledge accumulates as a by-product of agricultural and manufacturing experience, the two-sector specific factors model can explain major historical trends and structural turnarounds. The technical progress functions establish the link between the agricultural and the manufacturing sector through the land-labour ratio, which is determined by the savings propensities of wage-earners, landlords and capitalists. This result is achieved by making use of the traditional investment = savings condition, without reference to complicated micro-based models of human capital accumulation.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Darmstadt Discussion Papers in Economics ; No. 193

Klassifikation und Themen

• Klassifikation: Wirtschaft ; General Aggregative Models: Neoclassical
• Thema: Economic development ; growth ; Industrial Revolution ; income distribution ; Wirtschaftswachstum ; Industrialisierung ; Einkommensverteilung ; Endogener technischer Fortschritt ; Mehr-Sektoren-Modell ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Caspari, Volker ; Pertz, Klaus
• Ereignis: Veröffentlichung
• (wer): Technische Universität Darmstadt, Department of Law and Economics
• (wo): Darmstadt
• (wann): 2008

Weitere Informationen

• Handle: http://hdl.handle.net/10419/32055
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ